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Oct 16, 2012
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doug braunstein looks like he'll be transitioning out of the ceo role to something unnamed. state street may face the ire of shareholders and possibly the ouster. now you have pandit and havens. two people left. what do you think in a bigger perspective is happening on wall street? it's been a blood letting. >> the group is hated by america. america hates the bankers p. pandit by the way did the right thing. he said i'm sorry. people in washington and capitol hill liked pandit. sheila bair hated him. tim geithner liked him. federal reserve neutral. but i think that there is a stench in this group and i think people in general they welcome any change at the banks including our president. >> oh. >> i was thinking about something else given -- >> that's politicizing it. >> he inherited a bad situation much like our president. things have started to turn but maybe hasn't turned fast enough and perhaps pandit can it get forced enough and you wonder if that mood might extend to the national picture. >> no, i'm not going there. >> obviously the banks had very few friends anyway. >>
doug braunstein looks like he'll be transitioning out of the ceo role to something unnamed. state street may face the ire of shareholders and possibly the ouster. now you have pandit and havens. two people left. what do you think in a bigger perspective is happening on wall street? it's been a blood letting. >> the group is hated by america. america hates the bankers p. pandit by the way did the right thing. he said i'm sorry. people in washington and capitol hill liked pandit. sheila...
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Oct 17, 2012
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when we come back former virginia governor doug wilder, does president obama need a knockout punch the way ronald reagan had in '84 against mondale? >> i will not make age an issue of this campaign. i am not going to exploit for political purposes my opponent's youth and inexperience. >> sometimes these candidates don't tell the whole truth and nothing but the truth. scott and the investigation team is on the case. stay with us. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. they think all brushes are the same. they're not. that's why i tell my patients about the pro-health clinical brush from oral-b. unlike an ordinary toothbrush, it has pro-flex sides that individually adjust to teeth and gums. it truly provides a better clean. trust the brand more dentis
when we come back former virginia governor doug wilder, does president obama need a knockout punch the way ronald reagan had in '84 against mondale? >> i will not make age an issue of this campaign. i am not going to exploit for political purposes my opponent's youth and inexperience. >> sometimes these candidates don't tell the whole truth and nothing but the truth. scott and the investigation team is on the case. stay with us. when you take a closer look... ...at the best schools...
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Oct 1, 2012
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>> i was talking, bob pisani, to doug kass who of course is putting money to work in this market on the short side. in particular. and i asked him that question. when are fundamentals going to matter again? he said when the stock market doesn't work anymore. that's when they will matter. when people feel that it's just not working. that even though they are putting money to work in the market, the market is not responding. when that happens, we don't know, but at some point fundamentals matter. >> yeah, well ult mattly they still do matter. i agree the markets have been distorted by qe, marie wra. on the earnings, nick has it right. earnings has been slowing down but have been spectacular in the last two years. 2010, earnings of the s&p were up 38%. 2011, 16%. of course they're going to come down. the low-term average growth i think is 7%. if we get growth this year, it's not like the last few years but it's still growth. we probably get something similar next year as well. the question is, is qe 3 the earnings trough? can you talk to that, guys? nick, can you address that issue? i'm a
>> i was talking, bob pisani, to doug kass who of course is putting money to work in this market on the short side. in particular. and i asked him that question. when are fundamentals going to matter again? he said when the stock market doesn't work anymore. that's when they will matter. when people feel that it's just not working. that even though they are putting money to work in the market, the market is not responding. when that happens, we don't know, but at some point fundamentals...
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Oct 11, 2012
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that's not to say they don't have anyone who's qualified, of course. >> i know doug well. my sense is it became an extraordinarily difficult job, and continues to be one, and that reorganization perhaps that occurred maybe cut off some up side in terms of a particular career path. what's your take on that? i mean how much is london whale and how much is just the overall difficulty of the job and perhaps lack of up side -- >> i think a lot of it is the latter. one thing that's been pointed out to me a few times today is, you take a big pay cut actually if you go from being an investment banker or being a hefd commodities or something like that to becoming cfo. that was i'm sure a factor. at the same time, it is in a massive job. this is a company with a market cap of what? $160 billion? i mean getting earnings together every quarter within two weeks and making sure they're audited and you're ready to sort of articulate the message is a huge job. very fatiguing, i'm sure. obviously this london whale disaster while not doug's business and not his responsibility per se, it mus
that's not to say they don't have anyone who's qualified, of course. >> i know doug well. my sense is it became an extraordinarily difficult job, and continues to be one, and that reorganization perhaps that occurred maybe cut off some up side in terms of a particular career path. what's your take on that? i mean how much is london whale and how much is just the overall difficulty of the job and perhaps lack of up side -- >> i think a lot of it is the latter. one thing that's been...
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Oct 16, 2012
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in line is doug sipkin, senior analyst at susquehanna financial. they raised their dividend, but then we saw the stock trading down at some points in the premarket. what are people focusing on in the details? >> yeah, good morning. first off i would say the real earnings are $3.32 because there is a pretty sizeable loss on a gain on their own debt, so that's about 40 cents, so on that basis, they did $3.32, close to a 10% r.o.e. so pretty impressive quarter. i think the initial sell-off probably related to the fixed income trading business which was flat. i think probably seeing citigroup yesterday that was maybe a little bit greater expectation, but all in all, it's much better than expectations, and has probably some positive implications for estimate revisions. >> for estimate revisions for the rest of the year? >> yeah, into the fourth quarter, exactly, because september and october have clearly been a big improvement in the debt capital markets, which goldman is leveraged to. >> we noticed the expenses, $6.05 billion, they said it was 40% high
in line is doug sipkin, senior analyst at susquehanna financial. they raised their dividend, but then we saw the stock trading down at some points in the premarket. what are people focusing on in the details? >> yeah, good morning. first off i would say the real earnings are $3.32 because there is a pretty sizeable loss on a gain on their own debt, so that's about 40 cents, so on that basis, they did $3.32, close to a 10% r.o.e. so pretty impressive quarter. i think the initial sell-off...
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Oct 17, 2012
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need to share a wallet and get people back buying pcs away from the tablet. >> that's a tall order. >> doug, thanks a lot. good to talk to you this morning. when we come back, investors and employees still a little shell shocked from vickram pandit's departure over at citi. we have details about where the firm goes from here. plus, 20-year-old jeremy ups at the ein will join us live to talk about whether he thinks the candidates have answered his question, and if he has a job this morning. take one more look at futures. >>> wall street was stunned yesterday. they were stunned by the news that vickram pandit is out from citi. kayla. >> thanks, david. it's been a long 24 hours, hasn't it? but an interesting one. so i think people within citigroup remain surprised. although they're start to go digest the news and starting to get some more ideas about what the new ceo might bring to the table. there have been a series of calls starting second half of yesterday, possibly even before that. analyst phone call with mike corbat. there are not a lot of dashls facts emerging in terms of why vickram pa
need to share a wallet and get people back buying pcs away from the tablet. >> that's a tall order. >> doug, thanks a lot. good to talk to you this morning. when we come back, investors and employees still a little shell shocked from vickram pandit's departure over at citi. we have details about where the firm goes from here. plus, 20-year-old jeremy ups at the ein will join us live to talk about whether he thinks the candidates have answered his question, and if he has a job this...